Exceptional Office Take-up Achieved In Dublin During The First Half Of 2017
Dublin, 6th July 2017 – Commercial property consultants CBRE Ireland today released statistics on the volume of office lettings signed in Dublin during the first half of 2017, showing that more than 150,000 square metres of office lettings were signed in the capital during the first six months of 2017.
In total, there were 81 office lettings signed in the second quarter of the year alone, more than double the number signed in the first three months of the year. The largest lettings signed in the last three month period include the letting of 17,489m2 at The Beckett building in Dublin 3 and the letting of 14,083m2 at Block H, Central Park in the south suburbs.
Coming on the back of strong FDI numbers announced earlier this week by IDA Ireland, the first half of 2017 has been a particularly active one in the Dublin office market, with evidence of strong demand and healthy levels of take-up being recorded. This has included a number of significant lettings in buildings that are still under construction, demonstrating that occupiers are more comfortable committing to schemes when there is clear visibility on delivery. To have more than 150,000 square metres let at the mid-year point is an exceptional performance, considering it is almost 75% higher than the annual average take-up at the mid-year point for the previous five years and 68% higher than H1 take-up in 2016.
Prime rents in Dublin are currently in the order of €673 per square metre or €62.50 per square foot.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com
CBRE U.C., (CBRE Ireland) registered in Ireland, no. 316570. PSRA Licence No. 001528 is the country’s largest commercial real estate services company with offices in Dublin and Cork. Currently employing over 135 employees, we work with occupiers, investors and developers of office, industrial and logistic, retail, hotel and healthcare property, providing strategic advice and execution for property sales and leasing; tenant representation, corporate services; property and project management; appraisal and valuation; development services; investment management and debt advisory; business rates and compulsory purchase and research and consulting. Please visit our website at www.cbre.ie